Kislak Acquires Mixed-Use Property In Long Branch For $1.4M
593 Broadway
$1,400,000
$350/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Jan 17, 2023
AI
This recent sale in Long Branch involved a mixed-use property located at 593 Broadway. The property consists of five residential units and 4,000 square feet of retail space. The transaction took place on 01/17/2023 with a sale price of $1,400,000. The price per square foot was calculated at $350.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,400,000
The brokers involved in this deal were Daniel Lanni from Kislak representing the parties. It is worth noting that the property comprises both residential and retail components, providing a mixed-use investment opportunity.
Players
Long Branch Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93